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What is the journal entry for it expense

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Delta began business in 2015 and reported a $100,000 Net Operating Loss (NOL) for the current year. It has no permanent or temporary book-tax differences; thus, its taxable loss equals its book loss of $100,000. Delta will carry forward its $100,000 NOL to future years. The tax rate is 40%.

Problem 1: What is the journal entry for 2015 I.T. Expense? How much is 2015 Net Income?

Reference no: EM132701425

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